what does obo mean?

TLDR: "OBO" stands for "Or Best Offer," indicating that the listed price is negotiable. It is commonly used in online marketplaces, allowing buyers to propose lower prices and engage in negotiations. While "OBO" primarily means "Or Best Offer," it can also have other interpretations depending on the context.

In online marketplaces like Craigslist and eBay, "OBO" signifies that the seller is open to negotiation on the listed price. This flexibility benefits both parties: sellers can attract more buyers and gauge market interest, while buyers have the opportunity to propose a price they find acceptable. The term has been part of sales vernacular for many years, evolving from traditional sales practices where negotiation was common.

While "Or Best Offer" is the most recognized meaning, "OBO" can also stand for "On Behalf Of," "Overseas Buildings Operations," and "Open Biomedical Ontologies." Understanding the context is crucial to avoid confusion. By following best practices, such as clear communication and reasonable offers, both buyers and sellers can engage in successful transactions.